WPAC say the calendar ahead relevant to the New Zealand dollar is low key:
- next major event being the RBNZ's semi-annual financial Stability Review on 25 Nov
Multi-month we expect risk sentiment to remain elevated into year-end, supported by unprecedented global central bank and government stimulus, and the USD to remain in a downtrend.
- In addition, the NZ economy’s performance since Covid has been impressive, providing fundamental support for NZD outperformance.
- NZD/USD targets 0.70+ by year-end.
- NZD/USD is on a tear, with the next major technical target being 0.7000.
